> > How Much does a Surety Bond Cost?<br />
Well, it depends . . . <br />There are thousands of types of surety bonds.<br />We need to narrow things down to give you ...
What Will Affect the Costs?<br />General guidelines affecting Surety Bond cost include:<br /><ul><li>  Type of Bond
  Experience in the Industry
  Credit History</li></li></ul><li>Looking for a Bail Bond?<br />“Bail Bonds” – surety bond related to a criminal legal in...
Need a Bail Bond?<br />Try a search for your local area + <br />“Bail Bonds Company”.<br />
Small Businesses Owners<br />Again, the cost of your surety bond will depend:<br /><ul><li> Type of Bond
 Location
 Credit History</li></li></ul><li>Why Does Credit History Matter?<br />This is a game of risk mitigation.<br />
Commercial Surety Bonds<br /><ul><li>Mortgage Brokers		-Tax Collectors
Insurance Brokers		-Notaries
Car Dealerships		-Collection Agencies
Medical Providers		-General Contractors
Travel Agents		-and more . . .
Upcoming SlideShare
Loading in...5
×

How Much Does a Surety Bond Cost?

22,234

Published on

We answer "How Much Does a Surety Bond Cost?"

Published in: Economy & Finance, Business
1 Comment
1 Like
Statistics
Notes
No Downloads
Views
Total Views
22,234
On Slideshare
0
From Embeds
0
Number of Embeds
14
Actions
Shares
0
Downloads
9
Comments
1
Likes
1
Embeds 0
No embeds

No notes for slide

How Much Does a Surety Bond Cost?

  1. 1. > > How Much does a Surety Bond Cost?<br />
  2. 2. Well, it depends . . . <br />There are thousands of types of surety bonds.<br />We need to narrow things down to give you a proper answer . . .<br />
  3. 3. What Will Affect the Costs?<br />General guidelines affecting Surety Bond cost include:<br /><ul><li> Type of Bond
  4. 4. Experience in the Industry
  5. 5. Credit History</li></li></ul><li>Looking for a Bail Bond?<br />“Bail Bonds” – surety bond related to a criminal legal incident<br />Not what we do at SuretyBonds.com.<br />You will pay a set fee to a bail bond company, and may have to post collateral.<br />
  6. 6. Need a Bail Bond?<br />Try a search for your local area + <br />“Bail Bonds Company”.<br />
  7. 7. Small Businesses Owners<br />Again, the cost of your surety bond will depend:<br /><ul><li> Type of Bond
  8. 8. Location
  9. 9. Credit History</li></li></ul><li>Why Does Credit History Matter?<br />This is a game of risk mitigation.<br />
  10. 10. Commercial Surety Bonds<br /><ul><li>Mortgage Brokers -Tax Collectors
  11. 11. Insurance Brokers -Notaries
  12. 12. Car Dealerships -Collection Agencies
  13. 13. Medical Providers -General Contractors
  14. 14. Travel Agents -and more . . .
  15. 15. Home Cleaners
  16. 16. Janitors</li></li></ul><li>Common Premium Costs<br />Most commercial bonds will carry a premium cost of 1% up to 15%. <br />If you’re getting a $50,000 bond, you’ll pay anywhere from $500 to $7,500.<br />
  17. 17. Why the Large Gap in Costs?<br />There are two different markets:<br />Standard<br />High-Risk<br />“Standard” is cheaper.<br />
  18. 18. I want to be “Standard” then!<br />To qualify for Standard premiums, you’ll need to meet some criteria.<br />Been in Business > 1 year.<br />Credit score > 650.<br />No prior surety bond claims.<br />3+ years experience in your industry.<br />Personal net worth 1-3x the bond amount.<br />
  19. 19. Non-Standard or “High Risk” <br />You can still obtain a surety bond if you do not meet the “Standard” criteria.<br />Have no prior surety bond claims.<br />Are a US Citizen.<br />
  20. 20. Our Takeaways<br />Talk to a Bonding Agency, like SuretyBonds.om<br />Price will vary greatly based on situation.<br />Standard and Non-Standard surety bonds are available.<br />
  21. 21. Produced by the SuretyBonds.com Education Center<br />www.suretybonds.com/edu<br />www.suretybonds.com/blog<br />
  1. A particular slide catching your eye?

    Clipping is a handy way to collect important slides you want to go back to later.

×